Monday, January 3, 2011

2010 Year in review and reflections.

Second, facts is facts and here they are:-Overall our wealth increased 10.5%, subtracting for capital that was earned and added this year, overall up 4.8%. -401K/annuities with limited options up 6.3,4.3, and 8% this year.-Cash account=bankrupt-Roths and IRAs: one was minus 4.3%, others up 5 and 42%!

Discussion: I am most proud of recovery from some disasters with futures and poor overleveraged risks. I felt like I overall got into a nice rhythm as the year went on.

Reflections and thoughts:1. Most of what I say here really looks like gibberish when going back to look at it. Ignore me.2. I continue to miss out on great stocks by ignoring them once my wallet gets hurt. I need to focus better.3. I continue to note that if I (and if you) do not know what to do then doing nothing is best. If you are asking questions on how to do a thing or what others think of a trade, DONT DO IT.4. Along the same lines as above comes my theme for the next year: Restraint equals indulgence.5. Results matter. 6. Some things that I was most excited about over the past year have done the worst.7. Risking money on HTF a good way to go broke.8. I have given up on the dreams of daytrading for a living. I have given up on quitting my job early. I aim to focus on self and discipline. Screwing up on the discipline costs emotionally and financially.9. Futures are nice. I look forward to mine so will leave that roulette wheel alone right now.10. Narrow focus!